https://www.taxtmi.com/caselaws?id=126905 The petition invoking sections 397 and 398 of the Companies Act, 1956, alleging oppression and mismanagement, was deemed not maintainable by the court. The petitioner failed to meet the criteria under section 399 of the Act, specifically regarding the required shareholding threshold and written consent from family members holding a significant share capital. Despite allegations of mismanagement and fraud by the respondent, the petition was dismissed solely on the ground of maintainability, without delving into other substantive issues. The judgment emphasized the importance of meeting the statutory qualifications for filing such petitions. en-us Fri, 24 Sep 2010 00:00:00 +0530 Tue, 05 Feb 2013 16:32:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126905 The petition invoking sections 397 and 398 of the Companies Act, 1956, alleging oppression and mismanagement, was deemed not maintainable by the court. The petitioner failed to meet the criteria under section 399 of the Act, specifically regarding the required shareholding threshold and written consent from family members holding a significant share capital. Despite allegations of mismanagement and fraud by the respondent, the petition was dismissed solely on the ground of maintainability, without delving into other substantive issues. The judgment emphasized the importance of meeting the statutory qualifications for filing such petitions. Case-Laws Companies Law Fri, 24 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126905